​ICBA Encourages Small Businesses to ‘Go Local’

The Independent Community Bankers of America is encouraging small business owners and consumers to link up with a community bank as the trade group kicks off its Community Banking Month.

Throughout April, the ICBA will celebrate the role of community banks as well as educate consumers and small business owners on the benefits of banking locally, said Bill Loving, ICBA chairman and president/CEO of Pendleton Community Bank in Franklin, W.Va.

“Community banks are relationship lenders that thrive when their customers and communities do the same. Taking care of customers and looking out for the best interest of local communities is the community banking business model,” Loving said.

The ICBA said it has nearly 5,000 members holding $1.3 trillion in assets, $1.1 trillion in deposits, and $800 billion in loans to consumers, small businesses and the agricultural community.

Meanwhile, CUNA said everything that credit unions do, regardless of charter, is “local” in terms of serving their membership, regardless of where they live or work, according to Pat Keefe, CUNA vice president of communications and community outreach.

“We’ve always taken the view that the MBL legislation is really about helping small business, which is still in need of more credit, “Keefe said. “If the legislation pending in the House today were passed into law, $13 billion would be lent to small businesses, helping them create over 146,000 new jobs in the first year after enactment. That’s our focus.”